Hi Paul
My first answer was referring to the commercial aspect between us and EiF. I’m not sure that I would be told to be honest and I assume that as with any commercial relationship, a degree of sensitivity and confidentiality prevails.
As I'm with one of the companies who are aggressively reclaiming PPI on behalf of their clients, I can see our side of things. But I can also see the IPs side in that many of us are sitting on potential windfalls and their legal beagles are advising/telling them that not pursuing claims is akin to hiding an asset and a cause for failure. The main problem is that this has been handled so very very badly.
A cold call letter asking someone to hand over power of attorney? Really? I'd rather call to collect my Nigerian lottery win! The letter I received (can't speak for others) did not give me the option of not claiming or leave any room at all for me to say it had not been mis-sold. If the companies involved took the time to CALL the clients involved to discuss this then everyone would start calming down! I know these firms are big but surely each case office can manage their own workload.
I still maintain that until a claim has been admitted there is no asset to hide.
They will be delaying closure next in case a lottery ticket comes in -- doesn't matter that you don't buy lottery tickets ... millions of other people do .. and there is money at Camelot for the taking. So, your IVA stays open until you win !!!
My opinions are merely that .. opinions based on experience. Always seek professional advice.
IVA Completed 23rd July 2013 .... C.C. 10th January 2014
Correct BoL. I would love a solicitor to look over the said letter and see what they thought of it.
And the insolvency firms involved cannot wash their hands and say the ppi claims are nothing to do with them,its a 3rd party blah blah,you are their CLIENTS,they are making a small fortune from you(ok the creditors take most of the hit).
Its just getting silly. Still want to know if DFD get paid any fee from equity in finance for introducing you!!! Oh and wondering if the companies are linked in any way!!
Paul
Discharged today the 8th feb 2012. View is much brighter now.
Continuing to rebuild our credit worthiness.
I agree with yu Foggy that if there isn't a legitimate claim then there is no asset and no reason for failure. The problem is that many people do have a legitimate claim and are sitting on a windfall but the iva companies are not spending time talking to clients to find out who does and does not have a claim - they are lumping everyone together. And this is causing a lot of upset and confusion. Really the client should have come first in these discussions but we don't even feature. It's quite an arrogant attitude to customer care!!!
Paul - there will be some commercial benefit to DFD but they'll never tell!
They're not too far from where I live looking at the address. It could do.with having more info on there.
Sharing from experiences of dealing with debt
The greatness of a man is not in how much wealth he acquires, but in his integrity and his ability to affect those around him positively.
Bob Marley. http://kallis3.blogs.iva.co.uk
I just think that DFD shouldnt be gaining financially from ppi reclaims and Declan did nothing to ease my worries that they are in fact getting a cut!!!
Paul
Discharged today the 8th feb 2012. View is much brighter now.
Continuing to rebuild our credit worthiness.
It's an extremely posh place that is now used for businesses. It's been all sorts in the past, inclukding a hotel.
Sharing from experiences of dealing with debt
The greatness of a man is not in how much wealth he acquires, but in his integrity and his ability to affect those around him positively.
Bob Marley. http://kallis3.blogs.iva.co.uk
Paul, the simple answer is i dont know. Whatever relationship that does exist is beyond my area of knowledge. I’m not trying to avoid that answer, I simply just dont know.
The IVA firm may not have any financial agreement with their chosen PPI ambulance chasers but they will gain 15% from any additional monies going into the pot. Along the lines of.. £1000 claim minus 30% claim fees equals £700 minus IP commission equals £595 for the creditors!
